Minimum and Deposit Premium

Understanding the terminology A minimum and deposit premium is the amount due at the inception of the Product Liability Policy.  Even though the policy is “ratable” (subject to adjustment based on rate per sales), under no circumstances will the annual…

Understanding a Product Liability Audit

Why No Refund? One of the least understood aspects of a product liability audit is the perceived unfairness of why there is no refund of premium at the end of the policy period from the insurance carrier when actual sales…